- Signs System Integration Agreement with Cambridge Technology Enterprises -
TSX VENTURE: HTL
TORONTO, March 30 /CNW/ - Hamilton Thorne Ltd. (TSX-V: HTL), a leading provider of advanced laser systems and instruments for the stem cell research and fertility clinic markets, today announced the launch of its HAWK-i(TM) remote monitoring system with its first major installation of the system at an Ivy League university. Hamilton Thorne has signed a Master Service Agreement with Cambridge Technology Enterprises (CTE), a global business and technology services company, to develop customized applications and manage the infrastructure of the Company's HAWK-i(TM) system for enterprise-wide installations. Current applications for the HAWK-i(TM) system include surveillance of biosecure areas and off-site remote observation of ongoing experiments in advanced cell biology facilities.
"Executing our first large-scale installation at a leading Ivy League university marks a strong commercial launch for our latest product. By working closely with CTE, we can draw on their extensive application and infrastructure expertise which allows us benefit from alternative applications of our technologies while remaining focused on our core expertise, developing and commercializing leading-edge systems for stem cell research and fertility clinic markets," said Meg Spencer, Chairman and CEO of Hamilton Thorne. "CTE has already proven to be an invaluable resource to Hamilton Thorne and we hope to collaborate with them in future projects for our HAWK-i(TM) remote monitoring system."
"HAWK-i(TM) is a powerful infrastructure solution that can be adapted to meet the varying needs of customers," said Stefan Hetges, CEO of Cambridge Technology Enterprises. "This agreement also provides CTE the opportunity to enhance our presence in the life sciences industry, a field where Hamilton Thorne has a respected history."
Options Granted to New Management Member
Pursuant to the requirements of the TSX Venture Exchange, the Company is also announcing it has granted options to purchase 244,152 common shares of Hamilton Thorne to Dr. Michelle Lyles, recently appointed Vice President of Sales. The exercise price has been established at $0.40 per share with term of 10 years and a vesting period of 25 percent after one year and monthly thereafter. The stock options were granted pursuant to the terms of Hamilton Thorne's stock option plan and are subject to necessary regulatory approvals.
About the HAWK-i(TM)
The HAWK-i(TM) system allows remote monitoring of any scenario captured through a video camera. Whether surveying a secure area for intrusion or monitoring an experiment on a microscope, the HAWK-I(TM) system's video image may be viewed in real-time via an internet connected device or smartphone from any global location. Video from each installed camera is automatically recorded and archived on the HAWK-i(TM) server. Future software modules will permit remote access to database records, customized alerting to specific events, and the ability to remotely control certain facility systems.
About Cambridge Technology Enterprises
CTE is a global business and technology services company. Recognized as a thought leader and innovator of enterprise modernization services, CTE solutions improve business performance and provide clients with a compelling competitive advantage. CTE services include IT Modernization, Application and Infrastructure Managed Services and Business Process Outsourcing. CTE customers are major global commercial and government organizations such Vodafone, AIG, Pfizer, State Bank of India and US government agencies. CTE leverages world-class talent, proven tools and methodologies and global development centers to provide highly innovative and competitive solutions.
About Hamilton Thorne Ltd.
Hamilton Thorne's advanced laser systems and instruments are rapidly emerging as the dominant products to facilitate precise procedures in the stem cell research and fertility clinic markets. Hamilton Thorne's lead products, the ZILOS-tk and XYClone laser systems, attach to standard inverted microscopes and operate as robotic micro-surgeons, significantly reducing time and increasing efficiency in key in-vitro fertilization, stem cell, embryo, reproductive toxicology and living cell procedures.
Hamilton Thorne's growing customer base includes pharmaceutical companies, biotechnology companies, fertility clinics, university research centers and other commercial and academic research establishments worldwide. Current customers include world-leading research labs such as Harvard University, MIT, Yale, DuPont, Monsanto, Charles River Labs, Jackson Labs, Merck, Novartis, Pfizer, Oxford University and Cambridge.
Neither the Toronto Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the company with the Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE Hamilton Thorne Ltd.
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